Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,398 96,630 121,493 10,215 288,891 $ 548,627 $ 38,593 $ 37,106 66,214 49,985 85,747 53,771 9,634 4,123 272,766 241,415 $ 472,954 $ 386,400 $ 136,608 $ 78,331 $ 51,005 102, 110 162,500 147,409 $ 548,627 107,692 86,248 162,500 162,500 124,431 86,647 $ 472,954 $ 386,400 (1-0) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio 1 Choose Denominator: Choose Numerator: Current Ratio Current ratio to 1 to 1 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: 11 Required 1A Required 1B > Saved Total liabilities and equity $ 548,627 $ 472,954 $ 3 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. . Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsen over the three year period? Current ratio Prey 1 of 24 ch Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: 1 Choose Denominator Current Yr 1 Yr Ago: 2 Yrs Ago Acid-Test Ratio Acid test ratio to 1 to 1 to 1 (2-5) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio
